With an enhanced supply chain situation and a positive economic outlook, Volvo Car India is optimistic about the upcoming festival season’s prospects for the domestic automobile industry. According to Jyoti Malhotra, the Managing Director of Volvo Car India, price parity is gradually emerging between electric cars and Internal Combustion Engine (ICE) cars. Volvo Car India recently introduced its first ground-up electric car, the C40 Recharge, with an introductory price of Rs 61.25 lakh (excluding taxes). The luxury car segment is expected to rebound to its 2018 peak this year, despite supply chain improvements not reaching full potential. Furthermore, Volvo Car India believes that the inflection point, where an ICE car’s price aligns with that of an electric car, will likely occur around 2025-2026. Bookings for the new electric vehicle model can be made exclusively online starting from Tuesday. The C40 Recharge is the second electric vehicle manufactured at the Hosakote plant in Bengaluru by Volvo Car India.